Economics Multiple Choice Question – 23 July 2017

Economics

Price elasticity of demand measures?

Select ONE answer:

  1. % change in quantity demanded compared to % change in price
  2. % change in quantity supplied compared to % change in price
  3. % change in price compared to % change in supply
  4. % change in quantity demanded compared to % change in income
  5. % change in quantity demanded compared to % change in advertising

Explain what is meant by price-inelastic demand:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Economics KS5 classes.

The answer is 1 – The price elasticity of demand measures the sensitivity of the quantity demanded to changes in the price.

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Author: stuart001uk2014

Referral marketing, business, economics and accounting s​pecialist & corporate mentor

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